{"id":35566,"date":"2023-05-05T14:56:50","date_gmt":"2023-05-05T14:56:50","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/amc-earnings-a-hit\/"},"modified":"2023-05-05T15:01:07","modified_gmt":"2023-05-05T15:01:07","slug":"amc-positive-about-box","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/amc-positive-about-box\/","title":{"rendered":"AMC positive about box office recovery as &#8216;Ant-Man&#8217; lifts quarter"},"content":{"rendered":"<p>By Tiyashi Datta<\/p>\n<p>(Reuters) -AMC Entertainment Holdings Inc on Friday provided an upbeat assessment of box office recovery this year, after beating quarterly revenue estimates as films including the latest installment of &#8220;Ant-Man&#8221; drew moviegoers to theaters. <\/p>\n<p>Movie theaters have started to see a revival in footfalls after an uneven recovery from pandemic lows, thanks to a steady stream of movie releases during the year.<\/p>\n<p>&#8220;We could not be more optimistic about the prospects for the 2023 box office, except to say that 2024 looks even better,&#8221; said CEO Adam Aron.<\/p>\n<p>Shares of the world&#8217;s largest cinema chain operator were last up 0.5% in choppy trading, having rallied more than 4% before the bell. The stock, a hot favorite of retail investors, has climbed more than 45% so far this year.     <\/p>\n<p>Peer Cinemark Holdings Inc, earlier in the day,  posted a 33% rise in revenue for the first quarter, driven by a stronger-than-expected box office performance.<\/p>\n<p>AMC also signaled a boost to current quarter from the release of the much-awaited &#8220;The Super Mario Bros. Movie&#8221; and said it expected &#8220;The Little Mermaid&#8221;, &#8220;Guardians of the Galaxy Vol. 3&#8221; and &#8220;Spider-Man: Across the Spider-Verse&#8221; to generate box-office sales for the rest of the year.<\/p>\n<p>Revenue for the world&#8217;s largest cinema chain operator rose 21.5% to $954.4 million in the first quarter, topping expectation of $948.5 million, according to Refinitiv data.<\/p>\n<p>AMC is experimenting with different combinations to attract audiences, including options allowing moviegoers to choose seating options that match their viewing preferences.  <\/p>\n<p>&#8220;With moviegoers continuing to trend toward premium screens and concessions, it stands to reason that as volume normalizes, theater-level revenue could exceed pre-pandemic levels,&#8221; said Wedbush analyst Alicia Reese.<\/p>\n<p>On an adjusted basis, AMC lost 9 cents per share, compared with expectations for a loss of 16 cents. <\/p>\n<p> (Reporting by Tiyashi Datta and Yamini Kalia in Bengaluru; Editing by Anil D&#8217;Silva and Sriraj Kalluvila)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/amc-earnings-a-hit\/an-amc-theatre-is-pictured-in-new-york\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ440E8-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ440E8-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tiyashi Datta (Reuters) -AMC Entertainment Holdings Inc on Friday provided an upbeat assessment of box office recovery this year, after beating quarterly revenue estimates as films including the latest installment of &#8220;Ant-Man&#8221; drew moviegoers to theaters. Movie theaters have started to see a revival in footfalls after an uneven recovery from pandemic lows, thanks [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":35567,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-35566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ440E8-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=35566"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35566\/revisions"}],"predecessor-version":[{"id":35819,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/35566\/revisions\/35819"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/35567"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=35566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=35566"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=35566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}